Petryk's Picks - "The Accountant's Manual"

A loose leaf publication that I have often found useful is The Accountant’s Manual issued by the Canadian Institute of Chartered Accountants (CICA). This manual is an excellent source of information for major topics accountants would need to reference. I think of it like a dictionary, in that it is not used constantly, but is a very handy source of information whenever you need it. Information such as what is the minimum wage in Alberta ($7.00/hr), maternity leave requirements in Nova Scotia, or where to learn more about workers’ compensation in B.C. (www.worksafe.com).

However, to be most useful, it would be best to be part of a large organization. First to justify the cost, the CICA charges $375 for the initial order plus $175 every year afterwards for updates. These are sent out periodically throughout the year. Second because it summarizes legislation from all the provinces. If your business only operates in Ontario , it may not be practical. Another point to make is that most, if not all, of the information contained can be accessed via the internet. Keep in mind that to obtain this information on-line would be to spend considerable time in front of a computer exploring various websites. If one is not certain of what he/she is looking for, then a two volume binder with easy tab references would save much time. Furthermore, many people prefer to turn pages. In this way they can browse for information that was not initially considered.

The manual is divided into 28 sections that cover topics of interest to any senior level accountant. For example the section on corporations provides an overview of the corporate form of business, legislation from each province, and various websites, both provincial and national, to which one can refer. The section on employment includes legislation, minimum wages, vacation entitlements, and the different public holidays of each province. Other topics covered are: bankruptcy, electronic commerce, finance, franchising, government assistance, insurance, investment, pensions, taxation, and others.

You must determine for yourself if this would be a good investment. Examine a copy at your local library or at the library at the CMA before deciding.